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XPL to USDT Converter
1 XPL = 0.0719886 USDT · updated 06:21 UTC
Volume Bubbles Chart (1h)
Each 1-hour candle's volume is signed by its direction (up candles count as net buying, down candles as net selling) and drawn as a bubble at the closing price, green for buying and red for selling. Bubble size and colour intensity show how strong that flow is compared with the last 300 candles: the strongest 30% get full bubbles with their USD value, the rest stay as small dots. Unusually large bubbles flag aggressive buying or selling worth a closer look, often near breakouts, reversals or key levels.Seasonal Chart
Plots one line per calendar year showing the % change since the start of that year, with the current year highlighted against up to four previous years. Lining the years up on the same calendar shows whether the price tends to rise or fall in the same months, helping you spot recurring seasonal patterns. Treat it as context rather than a forecast: past seasonality does not guarantee future moves.Plasma Markets
Plasma Historical Data
About Plasma (XPL)
Plasma (XPL) is a layer-1 blockchain built mainly for moving stablecoins such as USDT. It runs Ethereum-compatible smart contracts. XPL is the token used to pay gas and, once delegation opens, to secure the network through staking. It is unrelated to an older Ethereum scaling idea that shared the Plasma name. The XPL quotes shown here are FMchart composite prices, built from trading on several exchanges and expressed in US dollars.
A chain designed around stablecoin payments
Plasma's documentation calls it a stablecoin-native financial network. Its headline feature is zero-fee USDT transfers, which The Block described as authorization-based transfers. Other transactions pay gas in XPL, the network's gas token. Blocks are produced by PlasmaBFT, a proof-of-stake consensus based on a design called Fast HotStuff. Plasma's documentation describes the network as a public mainnet beta.
Mainnet beta and the token sale
The mainnet beta and the XPL token both launched on 25 September 2025. The Block reported that Plasma was backed by Bitfinex and had drawn $373 million of commitments in its July 2025 token sale, which offered $50 million worth of tokens. More than 100 decentralized finance apps, including Aave and Ethena, were lined up for launch. Plasma's tokenomics page names Founders Fund, Framework and Bitfinex among its investors.
Ten billion XPL and the unlock calendar
The initial supply is 10 billion XPL. Ten percent went to the public sale, 40% to ecosystem growth, 25% to the team and 25% to investors. Buyers outside the US received their tokens at launch, while US buyers waited 12 months, until 28 July 2026. Of the ecosystem share, 8% was unlocked at launch and the rest unlocks monthly until September 2028. Team and investor tokens had a one-year cliff. Under the schedule, a third of them unlock on 25 September 2026, and the rest unlock monthly through September 2028.
Validator rewards that have not started
Plasma's tokenomics set validator rewards at 5% annual inflation at first, falling by half a percentage point a year to a 3% floor. That inflation only begins once outside validators and stake delegation go live. When this page was reviewed in October 2026, the official tokenomics page still described delegation as planned. Locked team and investor tokens will not earn rewards. Base transaction fees are burned, following the model of Ethereum's EIP-1559.
What could weigh on XPL
Monthly unlocks continue until 2028, adding new XPL to the circulating supply. Outside validators had not been admitted at that point, so the validator set was still limited. Plasma also competes with other networks that already carry stablecoin payments. Any change to rewards or inflation would need a validator vote once delegation is live, so the token's economics are not final. Stablecoin issuers and regulators could also shape how much payment traffic the chain attracts, which in turn affects demand for gas paid in XPL.
Last reviewed: Oct 8, 2026
Plasma (XPL) FAQ
What is Plasma (XPL)?
Plasma is a layer-1 blockchain built for stablecoin payments, with zero-fee USDT transfers and Ethereum-compatible smart contracts. XPL is the network's gas token for other transactions and its planned staking token. The mainnet beta and the token both launched on 25 September 2025.
Is Plasma the same as Ethereum Plasma?
No. Plasma (XPL) is a standalone layer-1 chain launched in 2025 with its own validators and token. The older Ethereum 'Plasma' was a framework for scaling Ethereum with child chains and had no token. The two only share a name, so check the XPL ticker when looking up prices.
How do zero-fee USDT transfers work on Plasma?
Simple USDT transfers on Plasma are free for the sender, using what The Block called authorization-based transfers. Other actions, such as using smart contracts, pay gas in XPL, the network's gas token. Base fees on those transactions are burned rather than paid to validators, as on Ethereum since EIP-1559.
How much does one XPL cost?
One XPL costs about $0.0719 on FMchart's composite index. In the last day, roughly $8.43M of XPL traded across the exchanges in FMchart's composite. Monthly unlocks change how much XPL is in circulation, under a schedule that runs until September 2028.
How many XPL tokens are unlocked?
About 4,761,111,111 XPL circulate out of an initial supply of 10 billion. Team and investor tokens were scheduled to start unlocking after a one-year cliff on 25 September 2026, and ecosystem tokens unlock monthly until 2028. Circulating XPL is worth about $342.2M at the composite price, rank 132.
What is the highest price XPL has reached?
According to market data, XPL peaked at $1.68 on Sep 27, 2025. Plasma began trading in September 2025, and much of its supply is released on a schedule that runs until 2028. The Price Statistics panel shows how today's price compares with both the high and the all-time low.
How has XPL performed since launch?
In FMchart's composite price history (since September 2025), XPL's strongest month came in September 2025 (+916.3%) and its weakest in October 2025 (-70.1%). Check the Monthly Returns (USD) grid for the rest. Plasma began trading in September 2025, so the record covers only a short period.
Can I stake XPL?
Not through delegation when this page was reviewed in October 2026. Plasma's tokenomics page then said staked delegation is planned for the future. Validator rewards of 5% a year, falling to 3%, start only when outside validators and delegation go live, and locked team and investor tokens will not earn them.
Is XPL a good investment?
Whether XPL fits a portfolio is a personal decision, and FMchart offers no investment advice on it. Plasma focuses on stablecoin payments, and its tokenomics page names Founders Fund, Framework and Bitfinex as investors. It also faces monthly unlocks until 2028, a beta network with a limited validator set and competition from other payment networks.
What affects the XPL price?
Scheduled unlocks add new XPL to the circulating supply each month until 2028. Other factors include stablecoin usage on Plasma, new apps and the launch of delegation. Any validator vote on rewards or inflation, once delegation is live, could also change the token's economics.